A “window of opportunity” could present itself for oil producers next year as analysts predict supply deficits may reach their highest level in years.
Russia intends to support a further increase in OPEC+ production at the group’s meeting next month, even as a new strain of the coronavirus raises concerns about demand, said officials familiar with the country’s oil policy.
The US Department of Energy Information Administration (EIA) has advised that it expects crude oil production in the United States to increase this year to its highest annual volume on record.
Any oil or gas leak from a North Sea field is bad news - not just from a people or environmental perspective, but potentially also for the British economy.
Norway will not intervene in a strike by the country's oil workers unless the conflict escalates significantly, labour minister Hanne Bjurstroem said today.
Italian group Eni's oil output in Libya is almost back to its pre-conflict levels at 260,000 barrels per day (bpd), its chief executive Paolo Scaroni has said.
Ramco Energy of Aberdeen said yesterday the joint venture between state-owned Iraqi Drilling Company and Ramco's 32.7%-owned Mesopotamia Petroleum had agreed a deal to explore for oil in the Middle Eastern country.
CRANEAGE company Sparrows Offshore has secured a two-year contract with Fairfield Energy covering operations in the newly acquired UK North Sea Dunlin field.
Fifty billion dollars will be needed to get Iraq's oil industry back on its feet - $40billion for developing already discovered, but undeveloped, oilfields, and $10billion for exploration.